The @LayerZero_Core Foundation has successfully acquired @StargateFinance Finance, a prominent cross-chain bridge protocol. This acquisition, valued at approximately $110 million, was approved by a 95% majority vote from the Stargate decentralized autonomous organization (DAO), despite a competing bid from rival protocol Wormhole. The merger is a strategic move to integrate Stargate's liquidity infrastructure into the broader LayerZero ecosystem. LayerZero, which originally developed and launched Stargate in 2022, aims to consolidate its technology stack, streamline governance, and enhance its position in the cross-chain interoperability space. As part of the deal, the Stargate DAO will be dissolved, and the STG token will be retired. STG to ZRO Token Conversion The core of this acquisition involves a fixed token swap, allowing STG token holders to convert their tokens into LayerZero's native ZRO token. The official exchange rate is fixed at 1 STG = 0.08634 ZRO. The conversion...
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